Neogen Chemicals Promoter Transfers 57.78 Lakh Shares to Family Trusts
Neogen Chemicals disclosed a major promoter shareholding restructuring where Chairman Emeritus Haridas Thakarshi Kanani transferred 57,78,500 equity shares (21.90% stake) to two family trusts through off-market gift transactions. The Haridas Kanani Family Trust acquired 52,76,500 shares (20.00%) while H T Kanani Family Trust received 5,02,000 shares (1.90%), with comprehensive regulatory filings submitted to BSE and NSE confirming SEBI exemption compliance.
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Neogen Chemicals Limited has disclosed a major promoter share transfer involving 57,78,500 equity shares under SEBI's Takeover Regulations. Haridas Thakarshi Kanani, Chairman Emeritus and promoter, executed the transaction through inter-se transfer arrangements to restructure promoter holdings within the specialty chemicals company.
Transaction Details
Kanani transferred 57,78,500 equity shares on December 31, 2025, representing 21.90% of the company's paid-up capital. The shares were distributed between two family trusts through off-market gift transfers with no monetary consideration involved.
| Parameter: | Details |
|---|---|
| Transaction Date: | December 31, 2025 |
| Total Shares Transferred: | 57,78,500 |
| Percentage of Capital: | 21.90% |
| Transaction Type: | Off-market gift transfer |
| Haridas Kanani Family Trust: | 52,76,500 shares (20.00%) |
| H T Kanani Family Trust: | 5,02,000 shares (1.90%) |
Shareholding Restructuring
The transfer resulted in substantial changes to the promoter's direct shareholding pattern while maintaining overall promoter group holdings at 23.33%.
| Entity: | Pre-Transaction | Post-Transaction | Change |
|---|---|---|---|
| Haridas Thakarshi Kanani: | 61,53,887 shares (23.33%) | 3,75,387 shares (1.42%) | -57,78,500 shares |
| Haridas Kanani Family Trust: | Nil | 52,76,500 shares (20.00%) | +52,76,500 shares |
| H T Kanani Family Trust: | Nil | 5,02,000 shares (1.90%) | +5,02,000 shares |
SEBI Regulatory Compliance
The transaction was conducted under Regulation 29(2) of SEBI Substantial Acquisition of Shares and Takeovers Regulations, 2011. Both family trusts obtained SEBI exemption order number WTM/KCV/CFD/17/2025-26 dated December 30, 2025, under Regulation 11(5) of SAST Regulations.
Haridas Kanani Family Trust filed detailed regulatory disclosures with BSE Limited and National Stock Exchange of India Limited on January 1, 2026. The filing confirmed the acquisition of 52,76,500 equity shares representing 20.00% of the company's paid-up capital through gift transaction from the promoter.
Corporate Structure Impact
Key compliance aspects included proper regulatory disclosures to both stock exchanges, with the company's paid-up capital remaining at ₹26,38,16,740 comprising 2,63,81,674 equity shares of ₹10 face value each. The Haridas Kanani Family Trust was classified as a promoter shareholder while H T Kanani Family Trust was designated as a promoter group shareholder post-acquisition.
The transaction maintains the aggregate promoter and promoter group holding at the same level, representing a strategic restructuring of family holdings rather than any change in overall promoter control of the specialty chemicals manufacturer. Dr. Harin Kanani signed the regulatory filings as Managing Trustee on behalf of Haridas Kanani Family Trust.
Historical Stock Returns for Neogen Chemicals
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.63% | -15.63% | +2.03% | -28.73% | -41.39% | +54.56% |
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